The five-star stars - award winning hotels in various countries - Brief Article

Business Asia, Sept, 2000

BEST BUSINESS HOTEL IN VIETNAM

Winner: Hilton Hanoi Opera

The news

The Hilton has this year out-performed its highly regarded Ho Chi Minh City counterpart, the Hotel Sofitel Plaza, for the top Vietnam award. Despite economic and political problems that have hindered the business environment in Vietnam, the country boasts some fine hotels that cater well for corporate travellers.

The hotel

Situated alongside the Hanoi Opera House, this hotel has been designed to capture the colonial essence of its famous neighbour. All 269 rooms in the hotel offer a view of the city or Opera House. Standard features include in-room safes, direct dial telephones, satellite channels and luxuriously fitted bathrooms. Business facilities at the Opera include two executive floors, the Clubroom Lounge and a business centre.

OTHER FINALISTS

Hotel Sofitel Metropole Hanoi
Hotel Sofitel Plaza Saigon
Omni Saigon Hotel

UPDATE: HONG KONG

AFTER TWO years of negative growth in room nights demanded, overall hotel demand in Hong Kong improved by 8 per cent in 1999.

This facilitated a rise in hotel occupancy of 3.9 per cent to reach 79 per cent during 1999 -- one of the highest in Asia during the period.

High tariff A hotels showed positive growth of 9.3 per cent in room night demand to reach 2.6 million room nights in 1999, following -12.8 per cent and -13.5 per cent growth rates in 1997 and 1998, respectively.

Investor interest has remained positive in the resilient hotel sector. But while there is substantial demand from investors and operators to enter the Hong Kong lodging market, their pricing is significantly below historic book costs and values.

SOURCE: JONES LANG LASALLE HOTELS DIGEST - ASIA.

UPDATE: INDIA

DESPITE NEGATIVE operating performance and an oversupply risk in the capital cities of New Delhi and Mumbai, investor sentiment, particularly for hotel developments in key strategic locations, remains positive.

An improvement in key economic indicators and the formation of a stable central government should positively impact the investment climate in the face of improved corporate performance.

Mumbai experienced reduced demand, with occupancies recording 59.4 per cent and 67.0 per cent for five-star deluxe and five-star properties.

Pressure on average daily rates led to reductions in revenue per available room, which recorded a 19.6 per cent decline to US$92 for five-star deluxe hotels and a 19.8 per cent decline to US$70 for five-star hotels.

SOURCE; JONES LANG LASALLE HOTELS DIGEST - AS!A

UPDATE: INDONESIA

THERE HAS been a revival of investor interest for city hotels in Jakarta and resorts in Bali following the presidential election in 1999 and the pending disposal of real estate assets taken over by the Indonesian Bank Restructuring Agency (IBRA).

Potential investors in the Jakarta and Bali markets perceive it as a good time to acquire quality assets.

Hotels across all segments have experienced a difficult trading environment and falling occupancy rates.

During 1999, Jakarta's top-end five-star properties recorded a 4.7 per cent decline in occupancy to 34.5 per cent.